Crypto News: April 11: Bitcoin could plummet to under $ 3000 with news of Ripple, Binance, Bitcoin Cash, Brave, Ethereum Classic, Ledger, Tezos

From Bitcoin's claim that it could drop below the $ 3,000 threshold this weekend to Binance CEO calling for people to use the Brave browser. Here are some highlights from the crypto market.


Bitcoin news

BitMEX founder Arthur Hayes has upload The article is striking on the company's blog today. He talked about the impact of the COVID-19 crisis on the global economy and predicted the complete collapse of the dollar. He said the United States is the only country that can lower its currency prices to the level necessary to continue generating economic activity.

Later, he mentioned the problem of printing too much money, causing inflation to increase. All of the global chaos and the financial crisis will eventually increase Bitcoin's influence. He said that Bitcoin is a form of digital money that couldn't be any better. However, he did not know exactly when it would be widely accepted.

Besides, he also did not ignore that BTC could retest the $ 3,000 threshold again in the near future before hitting the $ 20,000 mark.

Whales move nearly $ 1 billion worth of BTC with extremely low fees

Krira, a Twitter user who publicly posted an address recently moved 146,500 Bitcoins in one transaction, which is worth approximately $ 1 billion.

What is particularly remarkable about this transaction is that it only takes a few dozen minutes to complete and it costs the trader 0.0001 BTC, or about $ 0.70 at the moment. According to Paolo Ardoino, CTO of the cryptocurrency exchange Bitfinex, this is a transaction between the company's hot and cold wallets.

Besides, Whale Alert has shared data on dozens of transactions showing that a total of 25,000 BTC has been transferred via digital exchanges and anonymous wallets.

Details of those transactions show that the transaction fee is very small, such as only costing $ 0.47 to transfer 2,500 BTC (about 17,235,550 USD).


Some BTC transfers today Source: Whale Alert

Bitcoin and Ethereum can both become unclaimed digital currencies

Bitcoin and Ethereum, both have the potential to become the world's first non-sovereign digital currency, however, both types need to change a few shortcomings to achieve this position. One report Recently analyzed the difference between BTC and ETH in the definition and approach "money".

The source of these differences depends on the way they determine what "money" is.

"Bitcoin's approach is focused on consolidating the foundations of the monetary base while Ethereum's approach is aimed at aggregating currencies."

The report notes that money has no unique definition and that it is a range of different levels of trust and liquidity across separate classes. As seen in the diagram above, while the monetary base is the first thing BTC is focusing on, Ethereum primarily considers the utility of the currency.

Ripple news

In a recent interview with Thinking Crypto, Mark Yusko, founder of Morgan Creek Capital Management, mentioned that their cryptocurrency index fund excluded XRP and XLM.

“We exclude anything held too tightly. So we don't own XLM and XRP. ”

He explained that his hedge fund does not own these assets because a majority of them are controlled centralized companies including the Ripple and the Stellar Dedevelopment Foundation.

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Binance news

Binance is one of the major cryptocurrency companies named in a variety of lawsuit recently. If lost, the exchange will have to lose billions of dollars.

Roche Cyrulnik Freedman recently pointed out 11 class-action lawsuits against some of the biggest names in the cryptocurrency space, including Binance.

“There have been a lot of investors participating in the ICO, hoping to find the next Bitcoin. "Many cases claim that exchanges and issuers have failed to comply with federal and state securities laws."

Bitcoin Cash news

According to data provided by CoinDance, the hash rate of both Bitcoin Cash and Bitcoin SV has dropped below 1 EH / s.

After halving reduction, Bitcoin Cash saw an 83% decline in block speed, as miners in turn left. As a result, the cost of a 51% attack within an hour was reduced to 7,500 USD.


Hashrate Bitcoin, Bitcoin Cash and Bitcoin SV | Source: Coindance

Bitcoin now accounts for nearly 99% of the total computing power it shares with the other two coins that share the same SHA-256 mining algorithm. Its hashrate is at 123 EH / s after recovering from a 45% drop last month.

News Brave

Binance's CEO, Changpeng Zhao, urged 500,000 of his Twitter followers to download the Brave browser to ensure privacy while online.

Brave is the first Chromium-based secure web browser. It has many security features enabled by default, such as blockchain ads and tracking devices like Facebook pixels that keep you safe while surfing the web.

Brave also integrates a cryptocurrency wallet that supports BAT tokens. With this token, you can reward your favorite websites by sending BAT directly to them. You can also get a BAT reward when viewing ads if desired.

Ethereum Classic news

Ethereum Classic is working hard to launch another upgrade of the network, Phoenix (ECIP-1088), whose main purpose is to increase the activity of the Ethereum Virtual Machine (EVM).

EVM focuses on providing security and eliminating untrusted and obscure codes of computers around the world. Ethereum Classic's Phoenix Upgrade (ECIP-1088), was successfully activated on Mordor on March 9, 2020 and is expected to be released online on Kotti Testnet on April 13. After activation is complete. Phoenix on all testnet, the upgrade will be deployed on the mainnet in the first week of June.

News Ledger

Leading hardware wallet manufacturer, Ledger, now allows customers to pay online through the wallet application.

Follow notification On April 9, the company chose to accept payments in Bitcoin, Ether, XRP, Litecoin and Coin through the application. This is not the first time Ledger has allowed its customers to pay electronically. They have accepted Bitcoin, Bitcoin Cash, Ethereum and XRP through payment processors, Bitpay.

News Tezos

With the market in the current general downtrend, XTZ is in the same situation, the price has dropped 12% in the past 24 hours and it seems to be following a downward trajectory similar to BTC.

The correlation between XTZ and BTC is always quite high. CoinPredictor said the indicator is worth 0.84. This value is taken from a scale of -1 to 1 with 1 being the strongest correlation with BTC.


XTZ price chart | Source: TradingView

On the chart, the price of XTZ is below both the 50 (white) and 100 (yellow) moving averages in the bearish area. However, we can see that the 200 (green) moving average daily provides strong support at $ 1.60. Some other support levels include: $ 1.83, $ 1.66, $ 1.50, $ 1.45, $ 1.13 and $ 1.

Other news

Youtube continues to "color" a number of crypto-related channels

YouTube banned and then restored Jason Appleton's channel, also known as Crypto Crow.

Appleton said in a tweet on April 8: "It seems that my channel has been" flown "by YouTube without any warning today. I don't know why they do that. They really did not warn anything. I was really confused and was shocked. ”

However, within a day later, Appleton's account with 81,000 subscribers was Youtube restore.

Viet Cuong

Bitcoin Magazine

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